Written by Money Marketing
Online pension modelling tools risk confusing customers by providing a wide range of possible investment outcomes, research warns. Altus Consulting took an average 42-year-old earning £29,360 with existing savings of £37,400 and pension contributions of 9.4 per cent of salary. It found a “massive disparity” in the potential size of the pot at retirement, with the most conservative estimate at about £115,000 and the most optimistic predicting nearly £370,000. There was also a huge variation in investment expectations, from below 1.5 per cent to over 7 per cent.
In a sector with so much complexity, to what extent is RegTech solving the real compliance issues facing financial services?
Half of the companies in the first wave of the Financial Conduct Authority's advice unit have either launched a low-cost advice service or will be doing so imminently.
Over the last ten years it has become increasingly possible to turn bright technology ideas into smooth, working, scalable solutions, writes founding director of Altus, Kevin Okell.